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Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies.
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Heating Oil
Gasoline
Crude
Oil futures traded higher on Monday
January 26, 2021
Recap: Oil futures traded higher on Monday, buoyed by optimism over a U.S. stimulation package and supply concerns after it was reported that OPEC and its allies were within 85% compliance with the agreed upon output cuts. Adding to the higher move was the seizure of an Iranian f ...
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Baker Hughes reported that the oil and gas rig count increased by 5 to 378
January 25, 2021
Recap: Oil futures retreated on Friday, turning lower for the week, weighed down by an unexpected build in U.S. crude oil inventories and worries over a resurgence of coronavirus cases in China and its economic impact. An end of the year surge in China’s demand for oil supported ...
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Heating Oil
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The API reported an unexpected build in U.S. crude oil inventories
January 22, 2021
Recap: It was a lackluster trading session for oil prices on Thursday despite an unexpected build in U.S. crude oil inventories as reported by the API. Oil futures ended mixed, with WTI slightly lower, while Brent posted a modest gain ahead of Friday’s EIA inventory report, delay ...
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Oil futures crept higher on Wednesday
January 21, 2021
Recap: Oil futures crept higher on Wednesday, as Joe Biden was sworn in as the forty-sixth President of the United States, lifting hopes that he and his administration will roll out an aggressive pandemic package that would spur the economy. This follows Janet Yellen’s, Biden’s n ...
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Heating Oil
Gasoline
Crude
Oil futures traded higher on Tuesday
January 20, 2021
Recap: Oil futures traded higher on Tuesday, following a rise in equity markets and weakness in the dollar and discounting a cut in the International Energy Agency’s forecast for 2021 demand. The market was also lifted by optimism that a U.S. government stimulus package will boos ...
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IR Energy reported that U.S. oil refiners are expected to shut in 3.7 million bpd of capacity
January 19, 2021
Fundamental News: IIR Energy reported that U.S. oil refiners are expected to shut in 3.7 million bpd of capacity in the week ending January 22nd, increasing available refining capacity by 191,000 bpd from the previous week. Offline capacity is expected to fall to 3.5 million bpd ...
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Heating Oil
Gasoline
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Oil prices turned lower on Friday
January 18, 2021
Recap: Oil prices turned lower on Friday, as lockdowns in China fueled demand concerns due to coronavirus lockdowns. Demand woes tempered the rally driven by strong Chinese oil imports, the roll out of vaccines and U.S. plans for a large stimulus package. Strength in the U.S. dol ...
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Heating Oil
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Oil futures turned higher on Thursday
January 15, 2021
Recap: Oil futures turned higher on Thursday, boosted by weakness in the dollar and signs of healthy imports by China, but concern over demand kept limited moves to the upside. China’s imports rose 7.3% in 2020, reaching record levels, as refiners ramped up production and lowered ...
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Heating Oil
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U.S. crude oil inventories are about 8% above the five-year average
January 14, 2021
Recap: Oil prices fell on Wednesday, ending six consecutive sessions of gains for WTI, pressured by a gain in the U.S. dollar and increases in both gasoline and heating oil inventories. WTI slipped off of its highest level in almost a year, partly due to profit-taking, as near te ...
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Oil futures reached their highest level in 11 months
January 13, 2021
Recap: Oil futures reached their highest level in 11 months, bolstered by renewed weakness in the U.S. dollar, as traders continue to buy on hopes Saudi Arabia’s plans to limit supplies would offset weak demand due to the coronavirus. Oil prices were also gaining as equites stage ...
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